Example 8.7 on pages 300-301 of the book considers the supply of taxi cabs in New York City. The authors argue that without any restriction, the supply curve of taxi cabs in the city would be highly elastic. Clearly explain their reasoning behind this claim. Can you think of some reasons why the supply curve might not be quite as elastic as the authors claim

Afreezer manufacturer might purchase sheets of steel, wiring, shelving, and so forth, as part of its final product. this is an example of what sub-classification of business market?

Emerson has an associate degree. based on the bar chart below, how will his employment opportunities change from 2008 to 2018

You are looking at a one-year loan of $16,500. the interest rate is quoted as 8.7 percent plus two points. a point on a loan is 1 percent (one percentage point) of the loan amount. quotes similar to this one are common with home mortgages. the interest rate quotation in this example requires the borrower to pay two points to the lender up front and repay the loan later with 8.7 percent interest. what rate would you actually be paying here?